Fintech: SEC assures investors of funds safety

The Securities and Exchange Commission (SEC) has restated its commitment to investors’ protection, especially with the increasing use of Fintech.

Speaking at the one-day capacity training for financial journalists in Abuja, the Director General of the SEC, Dr. Emomotimi Agama, said the Commission will enforce regulations in the fintech ecosystem to curb mismanagement of funds and align operators with existing rules.

Agama said a regulatory environment that is conducive for the innovative use of technology is essential in the drive to transform Nigeria adding that it is time for fintech operators to be held to the rules of the capital market when it comes to fundraising.

Also speaking during a Panel discussion at the event, the Director, Registration, Exchanges and Market Infrastructure Department of the Commission, Hasfat Rufai, said despite the new disruptions, it will continue to ensure investors do not lose their investments.

“While these trends bring new opportunities, they also come with challenges, particularly around regulation and investor protection,” she said.

Rufai added that the rise of digital platforms, access to global markets, and growing interest in cryptocurrencies, fintech, and startups have reshaped how Nigerians invest.

“The digital age has transformed the investment landscape, offering greater accessibility, innovation, and opportunity. Investors must adapt to this evolving environment by embracing technology, seeking knowledge, and making responsible investment choices.

“The future of investment in Nigeria will likely be driven by the continued rise of technology, young investors, and evolving financial products,” she restated.

On his part, Abdulraham Abubakar, in his presentation on “Commodities Market as an Alternative Investment-Leveraging Fintech”, said that Fintech has further helped to boost standardization in the commodities market.

According to him, by leveraging on Fintech it has helped to connect storage facilities electronically exchanges.

He said the Commission has consistently made improvements on how it regulates the markets due to their dynamic nature.

The Commission had recently engaged the Toronto Center to assist the Commission in improving its Risk Based Supervision (RBS) regime.

The exercise is expected to provide insights into enhancing the Commission’s supervision capabilities, particularly for market infrastructure and operators.